What term describes unfair trade practices that result in unreasonable restraint of the business of insurance?

The term that describes unfair trade practices leading to unreasonable restraint of the business of insurance is "boycott." In the context of insurance, a boycott refers to a situation where individuals or entities refuse to do business with a particular insurer or group of insurers, often as a means of exerting pressure or influence. This practice can distort market competition and limit consumer choice, ultimately harming the availability and affordability of insurance products.

Boycotts can result from various factors, such as disagreements over rates, coverage terms, or business practices. When certain insurers or industry participants engage in a boycott, it can lead to a significant restriction on market activities, thereby impeding fair competition.

Understanding this concept is key in recognizing the implications of unfair trade practices in the insurance industry, where maintaining a competitive market is essential for protecting both consumers and insurers.